What's Next For Tamco?

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MESDAQ-listed Tamco Corporate Holdings Bhd will finalise its new business deal within the next six months, after having recently disposed of its core switchgear business. However, company officials remain tight lipped about the nature of the business deal. Tamco is selling its switchgear business to India's biggest engineering company Larsen & Toubro Ltd for RM378 million. Tamco will be disposing of four units, namely Tamco Switch-gear (M) Sdn Bhd, Tamco Shanghai Switchgear Co Ltd, Tamco Electrical Industries Australia Pty Ltd and PT Tamco Indonesia. Siew said the decision to sell was to maximise the value for shareholders who will receive proceeds from the disposals. Officials expect the deal to be completed within four months.